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vessel to zero in on one of their ships. japanese defense ministry officials are leveling some serious accusations at the chinese military. they say crew members on a chinese ship locked their weapons radar on a japanese vessel. they s the incident happened last week near the senkaku islands in the east china sea. japan controls the islands. china and taiwan claim them. defense ministry officials say last wednesday the crew of a chinese frigate directed fire control radar on a self-defense force destroyer. the ships were about three kilometers apart. the officials say the crew of a chinese frigate directed the same kind of radar last month at a japanese helicopter. officers used fire-control raid tore lock on to objects at which miiles can be fid. the chinese did notaunc any missil. still, japanese defense ministry officials say the incident was extremely unusual. diplomats lodged a protest with chinese authorities. defense officials are trying to find out who made the decision to lock on. now, the u.s. state department spokesperson expressed her concern over the incident. >> actions s
frigget trained their weapons radar on a japan self-defense destroyer. they say it happened in the island they both claim. first time they confirm china has done this to an sdf ship. gonodera just spoke about it. >> translator: using this so-called radar, weapons radar, is an extraordinary act. the japanese government believes that the situation could have gotten extremely dangerous. >> >> he says they laj aid protest with chi noose ministry. he revealed it happened on january 30th in international waters. he says the vessels were about three kilometers apart. he says defense ministry analysts are investigating a separate incident from earlier in january. they suspect a chinese navy frigget trained its weapons on a self-defense helicopter. japan and china have wenlocked in a dispute over the senkaku islands. china and taiwan claim the territory. the japanese government nationalized the islands last september. chinese surveillance ships have been navigating in and around or out of japanese waters near the territory ever since. the area around the islands is believed to be rich in natural r
's really not catching fire. a lot of defense industry lobbyists are giving republicans heat, they don't feel heat from the constituents because the constituents they think want to see real spending cuts. americans want spending cuts, they don't want political gains. >> i really do. i think when you look at the poll, americans still want smaller government and fewer services, aka spending cuts. i think this is the white house's big mistake, they're barking up the wrong tree. the only question i have, it is after all republicans, will they hang tough? in your opinion, you're closer to it, will they hang tough? >> i spent all day on capitol hill talking to house republicans privately saying what's going to happen between now and march 1st? they say the house leader has promised them privately they're not going to replace the sequester unless there are real cuts to replace the sequester, nothing else, tax reform, tinkering with the tax code, different kinds of cuts is not going to cut it because house republicans have been promised the sequester is going to happen unless it's a real solid
to avoid devastating defense sequester cuts. this is special report. >>> good evening, i'm john roberts in for bret baier. the white house dreamed of a specker of spending cuts to reach a budget deal. it was supposed to be a bluff but today president obama called his own bluff pleading with congress to kick the sequester deadline down the road. to win them over he offered a package of spending cuts and more tax increases. how was that playing on capitol hill? here's ed henry. >> warning the nation's economic recovery hangs in the balance, president obama prodded congress to stop a series of massive spending cuts that could threaten national security urging them to come up with a short term combo of lesser spending cuts and tax increases beyond what he signed at the end of december. >> if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package. >> president says the sequester puts hundreds of thousands of jobs in jeopardy from classrooms to the pentagon and defense lie lockheed martin w
yourself from an arms intruder. the president's nominee for defense secretary takes incoming fire on capitol hill over his stance on iran and israel. even as iran and threatens israel for its attack on it syria. former u.s. a message of the united nations jumbles and joins us next. ♪ the boys use capital one venture miles for their annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. but with the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. ♪ ♪ lori: president obama's date to be the next defense secretary faces critics on the hill today. too soft on a run and not tight enough with israel. fox news chief congressional correspondent tells us whether decade ago won any of his opponents over. >> after two months of public criticism over his nomination become secretary of defense former republican senator chuck a gold star ear
the defense secretary, leon panetta, gave the okay for teams to operate certain rescue equipment. investigators tell fox news they're still working to determine exactly how he gunman died. so they probably know, they're not letting us know. one week ago he reportedly snatched the child from his school bus. shot and killed the school bus driver, in midland city, alabama, near the border. the sheriff said the suspect felt like he had a story. now that story could remain a mid. -- remain a mystery. >> we were never able to actually find out what his story was. he just continued to -- we know it was very important to him and very complex. we were never able to discover what the story was. >> here's what we do know. the young boy is set to celebrate his sixth birthday this week and you can bet his relatives will be there with him. jonathan is live. some birthday plans on the agenda. >> that's right. video i want to show you from the nearby town of napier field. their city officials have been collecting birthday cards for the bow throughout the whole ordeal. his actual birthday is tomo
in a high profile murder trial in phoenix again testified in her own defense. her name is jody areas. she admits now she killed her ex-boyfriend stabbed him and slashed him over and over, shot him in the head and for good measure cut his throat from ear to ear. that was all back in 2008. prosecutors say she did it because she was jealous he was planning a trip with another woman. but she claims it was self-defense. and when she first unexpectedly took the stand yesterday, she explained why she once said no jury will ever convict me. >> i made that statement in september 2008, i believe it was. and at the time i had plans to commit suicide. i was very confident that no jury would convict me because i planned to be dead. >> shepard: you may have noticed the defendant has changed her appearance quite a bit since the time of the crime. back then, when this happened, photos show she was a blonde bombshell to hear it from many. now the confessed killer is a demuir brunette with glasses. perhaps a little image work there for the jury. but will it help save her life? this is a capital murder case
the 787s. reports say boeing is working on a new battery design. defense contractors want a budget deal out of washington. ceos from top defense companies, including pratt & whitney, met with president obama yesterday to talk about the effects severe budget cuts could have on their industry. lawmakers have until march 1st to compromise on a budget. without it, $1.2 trillion in automatic cuts in goverment spending take effect. half is from millitary spending. reports say defense companies are already delaying orders and hiring due to the threat of sequestration. president obama has nominated a business insider to run the department of the interior. sally jewell, ceo of the successful outdoor equipment company rei, has been nominated for the position. jewell is also a former banker and has worked as an official in the oil industry. she took over rei in 2005, and, if confirmed, will take her knowledge of the outdoors to the interior department. "the secretary of the interior is in charge of overseeing 500 million acres of public land in places like yellowstone and the grand canyon, and pro
whether civil -- like, the regulatory actions against them. they base their entire defense -- and, by the way, this is not the first time they screwed up. liz: defensive aaa rating, horrible toxic -- >> orange county, aaa in orange county, new york city back before the fiscal crisis in the 70s, high ratings, and then the place blows up. there's millions, and many, many others. what was the defense? first amendment. this is merely an opinion. here's how the justice department goes at them. they show, listen, they issueded the conflicted ratings that violated their own corporate policies, that when -- the procedures of issuing ratings were violative of the policies and rely on court precedent that once you don't follow your own criteria, guess what? the first amendment defense fades away. liz: what was the criteria? >> we had dick larkin on before. dick work at standard and poors for two decades, knows about the internal workings. there's something about being inside the box and outside the box. you're not supposed to be a part of the deal. you're not supposed to be saying here's ho
in washington where we are awaiting the president to speak at a farewell tribute to defense secretary leon panetta in washington. it's a ceremony marked by a 19-gun salute, an inspection of troops, and all accompanied by the united states pershing zone army band. general martin dempsey spoke first and he will soon be followed by the president. all to honor the man whom on thursday senator barbara mackowski said was the one person as cia director who never jerked her around. this comes a day after john brennan, the man who hopes to be the next cia director, walked into a volatile confirmation hearing room full of protests and pointed questions over torture, ren dation, adition, a targeted killings in the war on proper. >> i think there's a misimpression on the part of some american people who believe we take strikes to punish terrorists for past transgressions. nothing could be further from the truth. we only take such actions as a last resort to save lives when there's no other alternative to taking an action that's going to mitigate that threat. >> mr. brennan took pointed questions from
years, evenly split between domestic and defense or nondefense and defense. would that be such a bad thing or should financial markets and others watching this program say, that's okay. we can take those cuts. >> it is not so much a bad thing, it is a stupid thing. what they sr mindless senseless akos the board guts in areas we don't have to focus on right now. what we need to focus on are the entitlement programs on the cut side. and besides, no business guy watching this show ever balances their budget by making across the board cuts. they go in and make cuts where you least adverse effect on productivity. that's what we are not doing. we are just doing stupid easy stuff. >> senator, on entitlements, what exactly do you want to see done? people -- mitt romney ran your party's nominee last year, ran saying we need to shift to a system where we pay per person. obama called it a voucher. are there other things we should do? >> i tell you, 18 years in the senate, we tried desperately to do something with healthcare. we had a good bipartisan group. we met once a week. and the reality is
. there were some who did. but you seem to be going with the defense that we've heard before, which is essentially, these were opinions, they might not have been good opinions, in fact, they were terrible, but nonetheless, that's all they were. fair to say? >> that's what they were. they were the opinions of s & p, reached at a committee level, cdo by cdo, and they were indeed identical opinions, if they had to be, with at least one other rating agency. because the cdos had three rating agencies on it. >> when the government says these were false representations on the part of s & p, they knew better and simply continued to do this because it was such a gravy train for them, notwithstanding $13 million in fees here, but larger case, what's your defense? >> the defense is that it's not true. the defense is that for all the internal debates, and for all the late night e-mails, the government read 20 million pages of e-mails, and you've seen the best that they can cull out of it is here, that for all of that, what was going on was an organization trying its best to come out with answer
, it isn't good enough. i understand defense spending was down so ramp it up to 1.5%. still terrible. to me all of these arguments just fall flat when we can't get the horsepower the country's numbers to be better and that's with a small positive win on housing which at some point in 2012 hit its infliction point from taking away to adding into gd gdp. >> the issue that you have here -- the issue that you have here isn't the economy is at escape velocity. you're not where the u.s. economy is growing at 3% to 4%. >> let me interrupt you because we have the number on visas. 182 a share is where we're reporting. 182 a share compares to an estimate of 179. the earnings on the bottom line better than expected. here is revenue. 2.85 billion, also better than expected because it was 2.82 billion which was the estimate. vite visa is out and the stock trades up in the extended hour. 182 on 2.85 billion in revenue. >> very positive. >> let get reaction on the visa numbers. joining me to talk more about that in terms of reaction is gill laurier of webbush. thanks for seeing you. >> thanks for having m
treasury prices are telling you really nothing right now. for instance, if you look at cyclicals, defensive, defensive, defensive all the past couple years. now the value play looks like it will be cyclical. basically the cyclicals trade at a pe multiple around 12%. defensive sectors under 14%. cyclicals are up 55% in the past five years and defensive up 24%. something looks out of whack. i think you will start seeing a move into cyclicals right now, maybe out of defensive sectors, if you will. i think that is trend we're going to see to keep continuing bull move. as it continues i don't know. there is reason why. that reason is the market doesn't trust the market or the movement because of the fed's sponsorship of this market. that scares people. it actually should. liz: tim, thank you for the warning. we appreciate it. we'll check in with you in just a few minutes to see how the s&p futures closed. >> sure. david: let's bring in the markets panel. we have ryan detrick and kevin get des. we have to give you, kudos, ryan. you were on in december, in mid-december we were on the edge of a big
numbers. the fourth-quarter gdp all because of inventory and defense spending, other components are growing. first quarter will be 2% growth, so the productivity number will still be weak in the first quarter but not as bad as that in the fourth quarter. connell: give me a bottom line. even after the recession everything we have been through, people still coming out and telling us what is wrong with the economy. >> there are two or three good things going on. consumer sentiment has been at about a 2% rate, 70% of the economy, second housing is recovering. we would not have decent recovery without housing. third, an energy boom going on adding a lot of jobs in parts of the country, places like that, so quite a few right spots in the economy. connell: there we go. pretty well put together. thank you. >> my pleasure. dagen: thinking about the cloud in more and more states. connell: a winner in the big powerball jackpot somewhere in virginia. one of her relatives. dagen: why wouldn't it be? we all play the lottery. right? and the woman defense cuts costing one carrier group in the p
, service secretaries and combatant commanders around the world put together a new defense strategy. that defense strategy had to take into account that the budget control act required the defense budget over ot next ten years to be reduced by $500 million or so, a little less than that. and which would require a 5% decrease over what were the plans. and in doing that the president asked the military to think about what the new challenges were going to be. what were the real challenges we were going to face. and that defense strategy was comprehensive. and it had various pieces to it that we would look to agile forces, that we would look to having a global footprint. but with emphasis, reemphasis on asia, continuance on the middle east but innovative partnerships around the world that could involve a lighter footprint in cases, and indeed if you talk to the chief of staff of the army, who served in iraq as you know as our commander there, he would tell you that we are working on innovative partnerships. >> cot lab rattive work. >> so we can pain taken our global footprint, maintain
of national self-defense and not an illegal assassination. the issue first surfaced in september, 2011, when president obama announced the killing of american-born al qaeda leader anwar al-awlaki. he was the target of a u.s. drone strike in yemen. >> the death of al-awlaki is a major blow to al qaeda's most active operational affiliates. he took the lead in planning and directing effortings to murder innocent americans. >> reporter: u.s. officials say al-awlaki inspired the fort hood shooter in 2009 and the failed bombing of a detroit airliner that christmas among other attempted attacks. three other americans, including al-awlaki's 16-year-old son, have also been killed by u.s. drone strikes in yemen. civil liberties groups have said such attacks deprive u.s. citizens of constitutional due process protection. but white house press s.e.c. jay carney justified those actions today as legal, ethical, and wise. >> the questions around this issue are important and the president takes them seriously. we have significant challenges because of the nature of the attacks, how they're planned, who plan
's the only way we'll get the kind of defense cuts that we really need to get and we need to take our medicine. >> what i'm hearing is you disagree with the president and you're saying take the $85 billion now and sign on to as per the law just stop belly aching, you'll have $1.2 trillion of budget cuts over the next ten years. that's going to be law. and you're saying the president go on ahead and do it and stop belly aching. >> no, that's not what i'm saying. what i'm saying is -- it's not that i disagree with the president. it would be xwragreat if he cou come up with the solution. but that won't happen. we don't have the leverage anymore. the fact is we're probably going to go over the cliff. i think any deal that he could negotiate with the republicans would actually be worse from my point of view as a democrat than going over the cliff. because we're never going to get the kind of defense cuts that are envisioned in the sequester if you negotiate a deal with the republicans. >> senator hutch in-so thinson,s have dire consequences when we cut spending. in his book, we don't have dire cons
of national self-defense and not an illegal assassination. the issue first surfaced in september 2011 when president obama announced the killing of american-born al qaeda leader anwar al-awlaki. he was the target of a u.s. drone strike in yemen. >> the death of al-awlaki is a major blow to al qaeda's most active operational affiliates. he took the lead in planning and directing effortings to murder innocent americans. >> reporter: u.s. officials say al-awlaki inspired the fort hood shooter in 2009 and the failed bombing of a detroit airliner that christmas among other attempted attacks. three other americans including al-awlaki's 16-year-old son, have also been killed by u.s. drone strikes in yemen. civil liberties groups have said such attacks deprive u.s. citizens of constitutional due process protection. but white house press s.e.c. jay carney justified those actions today as legal ethical and wise. >> the questions around this issue are important and the president takes them seriously. we have significant challenges because of the nature of the attacks, how they're planned, who plans t
leaders of al qaeda are a lawful act of national self-defense. >> we only take these kinds of actions when there's an imminent threat, when capture is not feasible, and when we are confident that we're doing so in a way that's consistent with federal and international law. >> reporter: but the memo appears to allow greater leeway than the administration has publicly acknowledged. it says an imminent threat does not require the united states to have clear evidence that a specific attack on u.s. persons and interests will take place in the immediate future. the aclu is challenging obama's drone policy and is suing the u.s. government over awlaki's death on behalf of his family. >> it is a chilling document. it's, you know, it sets out the government's claimed authority to carry out the targeted killing of american citizens. but the limits are really vague and elastic, and it's very easy to see how they could be manipulated. >> reporter: nbc news analyst michael lighter, a former counterterrorism official who worked on the policy, says it reflects the reality of the murky war against al qaeda
on the bus and suffered severe injuries. the defense lawyer said his client had provided full identification of all five accused. the bus inside the lock up and various belongings. members of the victim's family spoke to the media. her brother says they are counting on the court impose and nothing less than the death penalty. >> we are not interested in the recommendations of the justice committee. we are only concerned about our case, and we want them hanged. then the indians have been demonstrating throughout the country for weeks to demand better treatment for women. the protests seemed to be working. the interior ministry has increased the penalty for rape to a minimum of 20 years in prison and approved the death penalty if rape victims are killed. >> it is the first visit by an iranian head of state. >> we go to cairo to learn more about the summit. ties between iran and egypt have improved since the revolution, but they still do not agree on how to solve the conflict in syria. in germany, citizens remain up in arms about the prospect of having to bail out failed banks and eu government
defense requests to delay the trial of george zimmerman. the former neighborhood watch volunteer is charged with second-degree murder for the shooting death of an all mourned t -- unarmed teenager trayvon martin. zimmerman claims he shot martin in self-defense after the teen attack him. the trial will begin as scheduled june 10. today trayvon martin's family and friends are celebrating what would have been his 18th birthday. >> a 5-year-old boy held hostage for nearly a week in and of the grant -- underground bunker in alabama has now been reunited with his mother. authorities storm the bunker after negotiation with suspect jimmie lee dykes broke down. officials are not releasing any details on the rate but they say he was shot and killed. police and family of a boy named ethan are just glad he is safe. >> he is happy to be home. he is very excited. like a said, he is happy to be home. and he looks good. he looks good. >> ethan's six birthday is tomorrow. the investigators have many days of work still ahead of them at the crime scene. >> a push for gun control -- reveals january
, and keep it short. so you have defensive protection. prices won't go down very much. keep your investments outside the united states, perhaps brazil or mexico are even italy, with higher yields as opposed to what we see in the united states. and ultimately, defensive-oriented bonds that can protect principle in addition to providing an interest rate that is acceptable. >> sie: waned to pickup o putting your money outside of the country, because you talked about australia, brazil, canada, but you're not a big fan of u.s. stocks. that's kind of interesting because it is coming at a time when individual investors, at least, are just getting comfortable about putting money back in the stock market. they're looking forward to an upside in the markets. you're not seeing much upside. 5% you say in u.s. stocks for this year? we've already done that in january. >> we have done that. we've got a 12-month return. one month, according to our forecast. were buish on stoc to the standpointhey can go up, if they can provide an attractive return relative to inflammation. 5% to 6%. but we suggest, relative
the mortgage bonds that exploded. in its defense will argue because of first amendment rights. i don't know who i am more surprised than just a part -- justice department or s&p? eric holder, five years later you suddenly find them asleep at the wheel? what about the home buyers who took on mortgages they couldn't afford, the banks, the investors to pick up every investment they to put their hands on. other rating agencies could have stopped the bare ground was obvious that the investments were junk. but the agency did not do that. but different from the banks the job is to rate investments, their readiness but it they did not stick their neck out they did not do their job. to use the first amendment to defend themselves is ridiculous. ducking responsibility, hiding behind the constitution. repaid more than $187 billion to bailout fannie mae and freddie mac. 60 million homes went into foreclosure. but they pay by being forced out of their home and a never ending list of the attorney general's hit the metaphor for closures of the many but the rating agency? off scot-free until yesterday. more on
.e.c. defense lawyers, and that's where the problem starts. you know, if you have someone like mary jo white or harvey pitt who used to defend merrill lynch and you're not expecting them to make decisions that impact their ex-client, clearly they can't do that. you can strike a balance and have somebody with experience. for example, a -- >> they should be able to do it, shouldn't they? they are fighting for the law so they should be able to do it and should be able to recognize right from wrong. just because they defended a firm on wall street doesn't mean that they are lying? >> no, maria, but very clearly if your ex-client has paid you hundreds of thousands of dollars to defend it in the past, i think it's going to be really problematic for that person to be objective on the decision. >> that's a good point. >> certainly we don't question the integrity of a mary jo white. >> no way. >> but you have to say that the optics are not great if you have a person who is chairing the agency who has those kinds of conflicts, especially as andrew points out if it comes to a very high-profile case tha
. a florida judge has denied a request by george zimmerman defense attorney to delay the trayvon martin trial. prosecutors have been slow to release evidence. zimmerman was the neighborhood watch volunteer that shot martin and 2012. zimmerman claims he acted in self-defense. superdome officials were worried about a possible power outage months before the super bowl. they said that tests on the domes electrical feeder lines that bring far into the dome showed some decay and a chance of failure. those are your headlines. back to you guys. connell: you may be surprised to know the real estate market is part of that. dagen: david lee miller has more on that story. >> we all know you can buy and sell just about anything on ebay. how about real estate? real estate for as well as one dollar. unlike an ebay auction for furniture, clothing or electronics, a.m. ebay auction is not legally binding. they are just an way to get a buyer. nobody is obligated. one seller we talked with said she had sold about 400 properties on ebay. they usually end up selling for about ten grand a piece. do not expect movin
will be extended. the military is limited because of the 1996 defense of marriage act. it would be the final imprint of secretary of defense leon panetta under his tenure don't ask, don't tell was rescinded and decision to allow women to serve in combat. military is expected to announce the changes sometime later this week. >>> he survive ad frightening ordeal but things are slowly returning to normal for the 5-year-old boy rescued yesterday from an underground bunker in alabama. she back home this afternoon and right now is expected to return to school soon. meanwhile, plenty of questions remain about how authorities freed him from his kidnapper. as chris clackum reports, though, a few dee tails, few details, have emerged. >> reporter: from the principal at midland city elementary school in alabama, everybody is waiteding the return of 5 old kidnapped victim ethan. >> everybody knows ethan. he is a good kid. a friendly kid. our teachers are ready to wrap their arms around whim he comes back. >> reporter: ethan spent the night in the hospital monday after a traumatic rescue hours earlier fro
dollars lawsuit saying it did a shoddy job rating mortgage bonds. in his defense are expected to argue what it says can't be attacked because the first amendment right. i don't know who i'm more surprised by. the justice department or the s&p. five years after the event you suddenly find a rating agency asleep at the wheel. so is everybody else that financial crisis for home buyers become mortgages they couldn't afford the bank issued them to the investors who lapped up every bit of housing investment they could put their hands on. the rating agencies could have stopped the merry-go-round, they could have said it was obvious among a handful of investors individual mortgage of supporting these investments were junk. not worth the paper they were written on, but the agency didn't do that, but different from the banks or the borrowers, their job is to write investments. estimate their value, their worthiness but they didn't stick their neck out and they didn't do their job or run against the% tide. the first amendment defend themselves is ridiculous. docking there is possibility hiding be
ruled in at least one precedent, first amendment defense is what s&p will say, it is our opinion is void if you violate your own criteria. we should also point out that the justice department has been looking at this for several years. what do you have to say about that? you were in the belly of the beast of s&p. >> s&p never lost a lawsuit on its ratings from what i understand. again their defense was the first amendment. from what i understand about this lawsuit and department of justice is their biggest, their biggest opponent to now. they have deeper pockets than anybody else. and, my guess is it might have to do with what we call could be september at s&p of the inner circle and the outer circle. >> was this -- let's back up. was this a concept or was this part of their criteria. >> not only part of the criteria but it was drilled into analysts. >> explain. >> the outer circle, outside observers people who bought bond. s&p was outside observer is. the inner circle were people selling bond. >> bankers. >> investment bankers, basically structuringing the december. s&p always said we w
in there. unclear whether they'll mount any sort of defense to this deal and say we want more. but something to watch closely. as for the deal itself, the biggest cable company in the world. about 25 million customers. i think bigger than comcast at this point. obviously a huge footprint with which to negotiate, not only with programmers, but the i.t. services and everything else. that's some of the synergy numbers we're talking about there. it's a typical john malone deal, one would argue, for this kind of environment, where investors seem willing to at least embrace a levered equity. there's john. levered equity story in what is a core market. free cash flow accretive right off the bad. shareholders own 36% of the combined company. you know, there's just a lot here. as i reported yesterday, they were back and forth for quite a long time, in part because the prices were moving all over the place. virgin media shares actually shot up. they broke apart. they were able to come back when liberty stock prices also started to follow up. look at that move up. how could you want more
. >> i'm inclined. i would think it would get a little more defensive and i think it will hit real resistance there and then back o.every time it backs off there's always plenty of buyers around. so far. >> get home safe, my friend. >> that will do it. we'll go out mid-range and call it as the markets in new york, boston, all over the northeast are getting ready for the blizzard. all of you get home safe if you haven't already. the second hour of "closing bell" under way right now with maria bartiromo. >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody of welcome back to the "closing bell." a stormy "closing bell." i'm embroemo. t the s&p posting six straight weeks of gains for the first time since 1971. see how we're settling out on wall street. the dow jones industrial average tonight up about 41 points, a quarter of a% higher at 13,984. s&p 500 picked up 7.66 points and the nasdaq composite the big winner on the ses, technology in the lead, up 27 points on nasdaq at 3192. last trade there. the dow couldn't push high enough to make it a winning week
, particularly younger ones, who say let's cut the defense budget, let those automatic spending cuts take place, and there are lots of senior republicans who say, not so fast. so that's going to be a problem within the republican party as we look ahead. >> where does karl rove and his new super pac fit into that? >> did you ever think republicans would call him a rhino, republican in name only. here you go. i've always thought of karl rove as a conservative. what's going on is his pac has said, you know what, we are tired of someone associated with his pac said to me, quote, the novelty of losing elections has worn off, and what they've decided to do is to start putting their money in primaries. they want to vet republican primary candidates so that by the time they get to the general election they believe they have qualified vetted candidates who can actually win. conservatives are saying, this is not what you should do. you need to let the process work itself out and american crossroads is saying, don't sacrifice ideological purity here. you can't worship at that. what you really need to do i
, defense, nondefense. i don't think that's a responsible position. cbo just indicated the economy is improving but slowly. we should not put a break on that. we shouldn't go over this cliff either. >> mr. boehner put out a statement saying that president obama did and cuts and reforms that protect our national defense. what he is saying there doesn't square with what you just said. you said that the republicans want the cuts no matter where they might fall or how. he doesn't seem to be saying that, though. >> that's what their position is now. they said senator coburn said let it happen, eric cantor said let it happen. the proposals they passed through the house never could be considered effectively by the senate. they were drastic provisions. they knew it wasn't going to happen. they have not responded to the present crisis. i think that's what it is. essentially they are saying let it happen. as to who is responsible for the sequester. the speaker agreed to that. he agreed to that. why are we going back -- >> mr. congressman, we'll have to interrupt because the president is abou
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